Pages

Monday, 23 January 2012

Olympus might have some good news soon: it might have found a hero to rescue it from its woes. The "troubled" (read: it hid $1.7 billion worth of accounting losses, was nearly de-listed from the Tokyo Stock Exchange and is currently suing its leadership team for fraud) company is reportedly about to negotiate a capital-and-business alliance with Sony. The TSE gave the optics-maker three years to clean up its act, which it's hoping Big S (that already owns a 0.03 percent stake in the company) will assist with some know-how, a big pot of cash, and maybe loaning them a competent accountant, or something. Whatever happens, the rumors are that all will be revealed at a press conference next week, we're just hoping Will Smith turns up to announce it.